BIS ChiefFears from a “Systemic Threat” Of Bitcoin

BIS general managerWarns Against a "Systemic Threat" Of Cryptocurrencies,

BIS ChiefFears from a "Systemic Threat" Of Bitcoin, Prompts "Pre-emptive Action" From Federal government "If authorities do not act pre-emptively, cryptocurrencies could become more interconnected with the main financial system and become a threat… " The general manager of the Bank for International Settlements (BIS) has bagsavaged bitcoin as a "combination of a bubble, a Ponzi scheme and an environmental disaster."   Augustin Carstens inquired Tuesday the sustainability of bitcoin and other cryptocurrencies and urged government bodies had a responsibility to clamp down on the monetary technology



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